Value of Time of a Partner.
This query is : Resolved
11 February 2011
Dear Sir,
Ina partnership firm, there are two partners. Both are partners / directors in other group concerns. Their Annual Gross Income comprises of Share of Profit,Partner's Remuneration, Director's Remuneration, Int on Bank FDR etc etc. And in last FY each partner's gross income was Rs.3 crores. Now, suppoose, we divide 3 crores by 300 waorking days - it will be 1 lakh per day. This 1 lakh to be divided by 10 hours - which partner is working daily, then amount will come 10,000/-per hour.
SO CAN I SAY THAT A PARTNER'S VALUE OF ONE HOUR IS RS.10,000/- ?
OR ANY OTHER TECHNICAL MEANINIG YOU CAN TAKE FROM THIS CALCULATION - PL. GUIDE.
THANKS
ANCKOORA.
Ina partnership firm, there are two partners. Both are partners / directors in other group concerns. Their Annual Gross Income comprises of Share of Profit,Partner's Remuneration, Director's Remuneration, Int on Bank FDR etc etc. And in last FY each partner's gross income was Rs.3 crores. Now, suppoose, we divide 3 crores by 300 waorking days - it will be 1 lakh per day. This 1 lakh to be divided by 10 hours - which partner is working daily, then amount will come 10,000/-per hour.
SO CAN I SAY THAT A PARTNER'S VALUE OF ONE HOUR IS RS.10,000/- ?
OR ANY OTHER TECHNICAL MEANINIG YOU CAN TAKE FROM THIS CALCULATION - PL. GUIDE.
THANKS
ANCKOORA.
CA PARAS BAFNA
(Expert)
13 February 2011
The most technical meaning is -
The time is the most valuable thing for everybody and he has got the right to utilise in the best possible manner.
The most technical meaning is -
The time is the most valuable thing for everybody and he has got the right to utilise in the best possible manner.
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